The Swiss Business Council (SBC) in collaboration with the Consulate General of Switzerland in Karachi and the Swiss-Asian Chamber of Commerce (SACC) in Zurich recently organised a twenty two-member trade and investment delegation to Switzerland on a three days visit.
The delegation comprised of Chief Executives of leading industries/organisations from Pakistan as well members from the Korangi Association of Trade and Industry, Karachi and the Chambers of Commerce and Industry of Faisalabad and Hyderabad.
In order to highlight the trade and investment opportunities that Pakistan offers to Swiss businessmen, a conference was held at Kongresshaus, Zurich where members of the Pakistani delegation gave presentations on some of sectors with strong potential including the financial sector (stock exchange), mining with emphasis on precious metals and stones, textiles, tools and machinery with regards to Pakistani exports to Switzerland.
SBC President Syed Farukh Mazhar gave a brief introduction to SBC; he said that, “Swiss Business Council, Pakistan has established corporate relations between the two countries and provided strong linkages for exchange of business related information. Introducing the Managing CommitteeMazhar stressed that country heads of Al-Ameen Trading Corporation, Clariant Pakistan Ltd., Roche Pakistan Ltd, SGS Pakistan Ltd and Swiss International Air Lines Ltd had personally participated in this delegation.
Consul General of Switzerland in Karachi Didier Boschung delivering the keynote address on Pakistani-Swiss Trade at the event, said, “Pakistan will be one of the world’s drivers of growth in the years to come, notwithstanding some of the present challenges.
There are significant opportunities for partnership between Swiss and Pakistani firms and encouraged Swiss businesspeople to explore these. A large number of Swiss multinational companies are operating in Pakistan. They do not only market their world class products and services, but are also creating thousands of attractive jobs in the country”.
He pointed out that in the Fiscal Year 2009-10, Switzerland was ranked the fifth largest Foreign Direct Investor in Pakistan investing $170.6 million. He also said that companies like ABB, Clariant, Credit Agricole (Suisse) S.A., Fracht, Gategourmet, Habib Bank AG Zurich, Habib Metropolitan Bank, Nestle, Novartis, Nexus Telecom, Parazelsus, Philip Morris International, Polygal AG, Roche, SGS, SICPA, Sika, Swiss International Airlines and Syngenta are well-known Swiss companies presently operating in Pakistan.
This proves, he opined, that Pakistan has the potential to be an attractive destination for Foreign Direct Investment. SBC Chairman of External Affairs Farhat Ali, and President of Global Power elaborated on the “Investment Opportunities in Pakistan”. He said, based on Pakistan’s strategic location, natural resources – most of which remains under-explored, talented manpower and above all the resilient business community, Pakistan still offers strong opportunities for the enterprising investor.
The Chairman, External Affairs further resolved that, SBC should work closely with the SACC to invite FDI and improve the perception of Pakistan in Switzerland.
Karachi Stock Exchange (KSE) Deputy Managing Director and Head of Operations Haroon Askari presented a brief overview of Pakistan’s economy and highlighted efforts made by the management for development of capital market and steps taken for seeking fresh listings on the KSE. He also informed participants that “Pakistan’s stock market is one of the best performing in the world and remains one of the most attractive priced in terms of regional Price to Earning multiples”.
Geological Survey of Pakistan Director General Mirza Talib Hassan briefed on mining prospects and Al-Karam Towel Industries CEO Mehtab Uddin Chawla briefed on potential investment in textiles.
Markus Haefeli of Parazelsus and Clariant Middle East & Africa Regional Head Peter Schiessl showcased the success stories of investments in Pakistan and their continued investment in challenging times. The delegation visited the Trade and Mode Center (TMC) in Zurich, Federation of the Swiss Watch Industry and a Swiss Watch Company in Bienne, State Secretariat of Economic Affairs (SECO) and the Swiss Parliament in Berne, besides various other institutions and organisations.